According to a report conducted by The Perryman Group, an economic and financial analysis firm based in Waco, Texas, the construction and operation of Exelon’s proposed nuclear power facility in Southeast Texas would not just increase energy reliability. It would enliven the area, employing more than 700 high-paid workers and creating more than 6,500 ancillary jobs in the Victoria, Texas, area. Total local spending would increase by more than $2 billion each year.
“Any business investment produces spinoff effects, which ripple through the economy,” said Ray Perryman, president of The Perryman Group. “For example, construction of the nuclear facility will likely involve input from a variety of industries, such as engineering services, construction equipment rentals, security, legal services, building supplies, landscaping, janitorial services, and many more.”
According to the study, if Exelon builds the plant, additional benefits would include the following:
• Construction and development will lead to incremental tax receipts over the buildout period, including $348 million to the state and about $70 million to local governments (school districts, cities, counties and others).
• Wages and salaries of the employees on site would likely be almost 90 percent higher than the average for the area.
• Economic output—goods and services produced in the area—would increase even more over the construction period of the plant.
• The facility also will serve as an important source of growth and diversification for the area’s economy, and long-term effects on property values are likely to be positive.
“It’s a win-win situation for Victoria and Texas,” said Bill Harris, community outreach manager for Exelon.
In 2007, Exelon announced it was exploring building a nuclear facility in Victoria County and that it would file a combined construction and operating license application with the Nuclear Regulatory Commission. The site encompasses 11,500 acres about 20 miles south of the city of Victoria. If Exelon moves forward with this project, construction could begin as early as 2011.